10 ways to GET RICH
I've read Warren Buffet's advices about getting rich, it's really amazing, and i would like to share it with you. If you don't know who Warren Buffet is, well, he is the richest man on earth: net worth of $62 billion. He earned most of his fortune by trading solid shares on the stock market, with the idea of always "buying what you know". And now you are going to read 10 ways to get rich by the man himself and some comments by me:
1 - Reinvest your profit > Got a nice payment from your business, don't go buying a bottle of Veuve Clicquot and throw a party. The beginnings are always the hardest parts, it's like a plane taking off, it's hard and it's necessary a lot of throttle for it to leave the ground, and the same applies for business, once it's already flying, things get much lighter.
2 - Be willing to be different > Mainly when talking about internet business, once a man has an idea, the cattle follows and copies him nonstop. Be ahead of your fellows, or at least, be in a different path.
3 - Never suck your thumb > Gather the maximum amount of information and make a decision. Sometimes when you think too much, the opportunity is already gone, or it has different conditions.
4 - Spell out the deal before you start > Make clear to anyone involved in a deal what are all the details about it, it will avoid a lot of posterior irritation, i personally had enough headache because of lacking clearness in some contracts.
5 - Watch small expenses > This is rather vague, but a lot of people spend really ridiculous amounts of money with useless things, like cigarettes, or who knows what kind of odd habits one can have.
6 - Limit what you borrow > My interpretation of it tells one should even never borrow any money unless that he is in a situation where there are absolutely no options left.
7 - Be persistent > If you are persistent enough and optimistic, you may beat competitors that are bigger or better established than you.
8 - Know when to quit > This is really something that applies to all life fields. There's a point where you can't reverse the situation and the only way to avoid further losses is to quit it.
9 - Assess the risks > I pretty much liked this one, because i am doing it myself since a long time ago. Whenever you face a situation involving risk and uncertainty, try to consider what are all the best possibilities and the worst case scenario to see how it's going to end, and know whether the payoff is worth trying.
10 - Know what success really means > This is the best part, just read Buffet's quote:
"I know people who have a lot of money," he says, "and they get testimonial dinners and hospital wings named after them. But the truth is that nobody in the world loves them. When you get to my age, you’ll measure your success in life by how many of the people you want to have love you actually do love you. That’s the ultimate test of how you’ve lived your life."
I guess I don't even have to comment on this one.
1 - Reinvest your profit > Got a nice payment from your business, don't go buying a bottle of Veuve Clicquot and throw a party. The beginnings are always the hardest parts, it's like a plane taking off, it's hard and it's necessary a lot of throttle for it to leave the ground, and the same applies for business, once it's already flying, things get much lighter.
2 - Be willing to be different > Mainly when talking about internet business, once a man has an idea, the cattle follows and copies him nonstop. Be ahead of your fellows, or at least, be in a different path.
3 - Never suck your thumb > Gather the maximum amount of information and make a decision. Sometimes when you think too much, the opportunity is already gone, or it has different conditions.
4 - Spell out the deal before you start > Make clear to anyone involved in a deal what are all the details about it, it will avoid a lot of posterior irritation, i personally had enough headache because of lacking clearness in some contracts.
5 - Watch small expenses > This is rather vague, but a lot of people spend really ridiculous amounts of money with useless things, like cigarettes, or who knows what kind of odd habits one can have.
6 - Limit what you borrow > My interpretation of it tells one should even never borrow any money unless that he is in a situation where there are absolutely no options left.
7 - Be persistent > If you are persistent enough and optimistic, you may beat competitors that are bigger or better established than you.
8 - Know when to quit > This is really something that applies to all life fields. There's a point where you can't reverse the situation and the only way to avoid further losses is to quit it.
9 - Assess the risks > I pretty much liked this one, because i am doing it myself since a long time ago. Whenever you face a situation involving risk and uncertainty, try to consider what are all the best possibilities and the worst case scenario to see how it's going to end, and know whether the payoff is worth trying.
10 - Know what success really means > This is the best part, just read Buffet's quote:
"I know people who have a lot of money," he says, "and they get testimonial dinners and hospital wings named after them. But the truth is that nobody in the world loves them. When you get to my age, you’ll measure your success in life by how many of the people you want to have love you actually do love you. That’s the ultimate test of how you’ve lived your life."
I guess I don't even have to comment on this one.
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